The definition of a Media Buy is, “The purchase of advertising from a media company such as a television station, newspaper, magazine, blog or website. The price of the media buy depends on the specifics of the advertising campaign.” The media buying process goes through a couple of steps, each necessary in making sure the media buy you make is the best one for the best price. Here are some helpful tips in successful media buying.
Step 1: Figure Out Who Your Target Audience Is -
Before purchasing advertising space you need to identify who you are trying to advertise towards. Not only do you need to figure out the age and gender of who you are trying to target, but you will also need to figure out the best way to reach them. For example, you wouldn't want to put an advertisement for a toy for kids in Good Housekeeping. Once you have completely figured out who your target audience is you may move on to the next step.
Step 2: Set Goals -
What is it you are trying to accomplish by running an advertisement? It is important to have a very structured, thought out plan about what it is you want to get out of your advertisement. Once you set your goals of what you want to achieve you can start to plan out your media buying strategy. Figure out your budget and identify what is the best plan of action to reach the goals you set for your target audience. How do you want your advertisement to look? How long should it be? These are a few of the questions you will need to answer before moving on to the final step.
Step 3: Execute the Media Buy -
After you have done the research and set some objectives you’re now ready to negotiate prices for the media buy. With all the information you have gathered you can now make the informed decision on what type of advertising medium and what pricing meets your company needs.